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litecoin

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supernova

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#1  Wed Jan 04, 2012 6:10 am
anyone mining litecoin? I am solo mining at about 12khz with amd 3.6 quad. it gets me 1 block every 5 or 6 days. i'd like to hear if anyone is mining with an intel chip and what the results are.

Matoking

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#2  Wed Jan 04, 2012 12:19 pm
My Q6600 does about 13.4 kh/s when I use all four threads, but I usually just use two threads which gives me about 6 khash/s.

paulzag

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#3  Mon Jan 16, 2012 1:40 pm
Anybody have an explanation for why I'd want to mine litecoin?

Mqrius

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#4  Thu Jan 26, 2012 1:47 pm
I personally see no other reason than to immediately sell it. In theory it could become big, but I find that pretty unlikely.

I used to mine litecoin and then sold them, but the exchange rate has gone downhill, so now I don't bother anymore.

PistachioBK

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#5  Sat Jan 28, 2012 12:31 am
I left it running for about two days with my quad core laptop and nothing. For the current exchange rate, I don't see how it is worth it if it takes days get a block.

jesse

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#6  Sat Jan 28, 2012 3:08 am
IMO all these blockchain forks won't amount to anything, except possibly namecoin, which actually has a use other than directly competing with Bitcoin. I think the only thing that could compete with Bitcoin is a new currency/technology that doesn't use mining at all.

dropt

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#7  Sat Feb 04, 2012 2:33 am
jesse wrote:IMO all these blockchain forks won't amount to anything, except possibly namecoin, which actually has a use other than directly competing with Bitcoin. I think the only thing that could compete with Bitcoin is a new currency/technology that doesn't use mining at all.


But how would you distribute it?

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#8  Sat Feb 04, 2012 4:36 am
dropt wrote:
jesse wrote:IMO all these blockchain forks won't amount to anything, except possibly namecoin, which actually has a use other than directly competing with Bitcoin. I think the only thing that could compete with Bitcoin is a new currency/technology that doesn't use mining at all.


But how would you distribute it?


that is the biggest problem.. maybe some kind of lottery, faucet, sell them for Bitcoin? Somebody would probably need to distribute them, and do it quickly.

Salaga

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#9  Sun Feb 05, 2012 2:32 pm
jesse wrote:IMO all these blockchain forks won't amount to anything, except possibly namecoin

My thoughts exactly. Also, most people would adopt extra blockchains if their mining pool of choice adopted them AND you can make some extra of the "major" currency because of exchange rates.

Vanderbleek

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#10  Tue Feb 07, 2012 4:35 am
The only real advantage of LTC over BTC is the faster confirms -- BTC confirm time is abysmal, ESPECIALLY since we are trying to replace instant payments with it. I don't want to wait an hour to know my purchase went through successfully. Otherwise I think LTC, like BTC, is just a fun experiment.

cobradane

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#11  Tue Feb 07, 2012 6:04 pm
since they chose to make it cpu-mined to avoid competing with bitcoin mining...

are there any GPU-mining clients out there for litecoin that would make bank?

Vanderbleek

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#12  Tue Feb 07, 2012 8:29 pm
cobradane wrote:since they chose to make it cpu-mined to avoid competing with bitcoin mining...

are there any GPU-mining clients out there for litecoin that would make bank?


You would have to run SCrypt through openCL/CUDA, and the hardware of current GPUs doesn't have the proper caches to make it work. Some have tried, it was as slow or slower than a cpu, and using 2x -3x the power. It's a hardware limitation, not software.

cobradane

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#13  Wed Feb 08, 2012 7:26 am
Thanks, that's interesting to know.

Then, what about an FPGA board? like the Bitforce single? That can get 832mh/s (on 80 watts, no less) and has a different hardware configuration than a GPU, more calculation oriented.

Vanderbleek

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#14  Wed Feb 08, 2012 6:33 pm
As far as I know, it still doesn't have the fast cache needed (like a CPU has) for SCrypt to run quickly. That's not to say someone couldn't build something that would work, but from what I've seen on the market, there's nothing that quite fits.

suntzu

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#15  Thu Feb 09, 2012 7:58 pm
Interesting. Do you think it'll pick up? Right now it feels like I'm splitting my bets between bitcoin, namecoin, and litecoin...

Vanderbleek

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#16  Fri Feb 10, 2012 3:23 am
In order for it to catch on, we'd need to see unique businesses start using LTC. It's also currently worth less than it costs most to mine, largely due to bot nets.

Thomas808

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#17  Sun Feb 19, 2012 1:50 am
I don't want to trust many other crypto currencies though, they may be just some basement dweller's scheme and will print himself unlimted *coins once other people invest money nito it. hehe

suntzu

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#18  Sun Feb 19, 2012 2:24 am
Thomas808 wrote:I don't want to trust many other crypto currencies though, they may be just some basement dweller's scheme and will print himself unlimted *coins once other people invest money nito it. hehe


Yeah, there's too many others. Like namecoin and solidcoin. The "print himself unlimited coins" things doesn't really work - the source code can be checked to make sure it can't be exploited like this... I think namecoins are the best "second" currency, since they're actively integrated / parallel to bitcoin mining.

Vanderbleek

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#19  Sun Feb 19, 2012 6:48 am
suntzu wrote:
Thomas808 wrote:I don't want to trust many other crypto currencies though, they may be just some basement dweller's scheme and will print himself unlimted *coins once other people invest money nito it. hehe


Yeah, there's too many others. Like namecoin and solidcoin. The "print himself unlimited coins" things doesn't really work - the source code can be checked to make sure it can't be exploited like this... I think namecoins are the best "second" currency, since they're actively integrated / parallel to bitcoin mining.


Namecoins aren't really a currency though -- they're a tool to register decentralized domain names. They shouldn't have called them Namecoins, they should have called it Nameblocks, or ChainName or something.

Joseph

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#20  Tue Feb 28, 2012 12:42 am
Though I own quite a few litecoins, I'm not optimistic about their future. The strongest criticism I've seen so far can be found here, where an individual who seems to know what he is talking about discusses how custom hardware would be even better for litecoin mining (litecoin uses the same hash function as Tenebrix) than GPUs are for bitcoin. Indeed, this might even explain the "dark pool" that has been mining litecoin for quite a while.

Vanderbleek

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#21  Tue Feb 28, 2012 6:36 am
Joseph wrote:Though I own quite a few litecoins, I'm not optimistic about their future. The strongest criticism I've seen so far can be found here, where an individual who seems to know what he is talking about discusses how custom hardware would be even better for litecoin mining (litecoin uses the same hash function as Tenebrix) than GPUs are for bitcoin. Indeed, this might even explain the "dark pool" that has been mining litecoin for quite a while.


In all fairness, custom chips like that (ASICs) would far outpace GPUs or FPGAs for Bitcoin mining, as well.

Hermod

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#22  Tue Feb 28, 2012 10:00 pm
jesse wrote:IMO all these blockchain forks won't amount to anything, except possibly namecoin, which actually has a use other than directly competing with Bitcoin. I think the only thing that could compete with Bitcoin is a new currency/technology that doesn't use mining at all.


+ except Litecoin. it uses the CPU and therefore rather extends Bitcoin. I mine both and hence use my whole system instead of just the GPU.

I can do ~35kH/s with my i7 @ 3.4GHz

But as I am unsure about the CPU-only thing as well, I doubt it is safe to invest in Litecoin at the moment...
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MaddCowz

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#23  Mon Mar 05, 2012 4:31 am
My intel duo only gets 7khash, so I don't run it all that much.
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Sardone12

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#24  Tue Mar 06, 2012 1:49 am
My laptop runs too hot and my desktop only churns out 2.3 kh/s, I guess it's time to upgrade :) Really love litecoins though, cpu mining is really universally usable.

HappyLuke

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#25  Sat Mar 10, 2012 5:12 am
hmmm looks potentially fascinating
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